Categories: OLD Media Moves

FT admits reporting mistake on European interest rates

The Financial Times erroneously reported that Europe’s central bankers had decided to hold interest rates steady rather than cut them as expected.

A New York Post article states, “The London-based paper compounded the error by tweeting the incorrect story at 7:38 a.m. (‘ECB leaves rates unchanged in shock decision’) just minutes before the European Central Bank announced at 7:45 a.m. that it was cutting rates.

“‘The article was one of two pre-written stories — covering different possible decisions — which had been prepared in advance of the announcement,’ the paper said in acorrection posted on its site. ‘Due to an editing error it was published when it should not have been. Automated feeds meant that the initial error was compounded by being simultaneously published on Twitter.

“’The FT deeply regrets this serious mistake and will immediately be reviewing its publication and workflow processes to ensure such an error cannot happen again. We apologise to all our readers.'”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.